France-based medtech company Defymed said today that it’s developing a novel insulin delivery device which it hopes to bring to market by the end of 2020.
The company’s device, ExOlin, uses a biocompatible membrane that is nonbiodegradable and permeable to insulin, according to Defymed. The insulin delivery device is designed to be implanted into a patient’s abdomen and to facilitate insulin delivery through a simple injection. Patients with diabetes can continue their normal insulin delivery methods, Defymed said, and use ExOlin to better stabilize their blood sugar levels over an extended length of time.
“With ExOlin, Defymed shall offer diabetic patients a more physiological approach for delivering insulin. The therapeutic effectiveness of the treatment should thus be significantly improved. The patient should also benefit from greater stability in their blood sugar levels and therefore a better quality of life” founder & CEO Dr. Séverine Sigrist said in prepared remarks.
The company is in preclinical phases and said it hopes to launch an 8-patient clinical trial in Europe next year. Defymed plans to first pursue CE Mark clearance in the European Union and then move to win FDA approval in the U.S.
The company also said it is hoping to raise €10 million to support ExOlin’s clinical development. The funds would also support the preclinical development of its MailPan bioartificial pancreas.